Investors lose N215bn in first trading week of 2017

Investors in the equities sector of The Nigerian Stock Exchange (NSE) lose about N217 billion of their investment in first trading week of 2017.
Investors profit taking in some highly capitalized stocks dragged all market indicators negative.
The market capitalization dropped by N217 billion or 2.32 per cent from N9.247 trillion it opened this year to close at N9.032 trillion today.
Equities market major indicator, All-Share Index also sheds 623.32 basis points or 2.32 per cent to 26,251.39 basis points from 26,874.62 basis points equities market opened this year.
It was a four-day trading week as Federal Government declared Monday 2nd of January, 2017 as Public Holiday for the New Year celebration.
Meanwhile, a turnover of 4.319 billion shares worth N7.376 billion in 9,330 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 405.939 million shares valued at N3.724 billion that exchanged hands last week in 6,363 deals.
The Financial Services Industry (measured by volume) led the activity chart with 4.177 billion shares valued at N5.306 billion traded in 5,047 deals; thus contributing 96.71 per cent and 71.94 per cent to the total equity turnover volume and value respectively.
The Oil And Gas Industry followed with 65.827 million shares worth N594.522 million in 1,385 deals. The third place was occupied by Conglomerates Industry with a turnover of 26.487 million shares worth N48.163 million in 299 deals.
Trading in the Top Three Equities namely – Unity Kapital Assurance Plc, Omoluabi Savings and Loans Plc and FCMB Group Plc (measured by volume) accounted for 3.863 billion shares worth N3.013 billion in 286 deals, contributing 89.45per cent and 40.85per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N505.65 executed in 11 deals, compared with a total of 9,965 units valued at N56,446.35 transacted last week in 16 deals.